Demetris Syllouris, Parliament Speaker in Cyprus has been faced with a flurry of criticism after Al Jazeera published a contentious video that has spelled the death knell for the Cyprus Investment Programme. Giovanni Group a known real estate developer, lawyer Andreas Pittadjis and investment migration agents Denise and Tony Kay of Sold on Cyprus have all been implicated in this fiasco.
The Cyprus Papers scandal
As per the signature style of AJIU (Al Jazeera Investigative Unit’s) reporting, the attention-grabbing documentary involves undercover reporters. They present a fake potential applicant to Cyprus immigration agents Denise and Tony Kay. The applicant’s file is riddled with red flags including convictions, money laundering, bribery, and criminal activity. The agents assure the applicant’s representatives that in the experienced hands of Christakis Giovanni, Member of the House of Representatives and real estate developer there will be a almost certain success rate.
The pseudo applicant’s representatives (undercover reporters from AJIU) then get introduced to Lawyer Pittadjis who again assures them that regardless of the issues (criminal records, arrest warrant etc..) “when you know the angels you do not need God”. Implying that with the right connections in the respective decision maker ministries – matters can be resolved. Pittadjis goes on to state that the dodgy applicant’s file could be processed under a fake name with a swift five-minute document, allowing the contentious individual to assume a new identity and a Cypriot passport.
Astonishing.
Video: Watch the Cyprus Papers on youtube explainer here.
What is the Cyprus Bar Association’s (CBA) response to the Cyprus Papers?
Everyone awaits the response from the CBA on this undercover video and Pittadjis’ damning statements which clearly disregard the rule of law as follows.
Will Pittadjis career come to a shrieking halt after this? What disciplinary action will be taken? Up until recently the Cyprus Bar Association’s disciplinary board has been criticized for its inefficient operation, having over 2,000 cases still pending. The departing President of the disciplinary board, Mr. Ioannides himself stated “for 15 years and I preside over the disciplinary board and I am telling you we have failed.”
In any case, in a swift reaction to this AJIU video released on the 12th of October 2020, advocate A. Pittadjis stated;
Andreas Pittadjis – Extract from Statement
For what has been published today by the Al Jazeera network and involves both me personally and my office, I would like to mention the following.
From the first moment, last year in October 2019, I realized that the people who visited my office wanted ways to circumvent the rules and carry out illegal activities. Because I was trying to gather information about both themselves and the person they represented, I tried to catch information to report to the authorities. That’s why, trying to gain their trust, I told them various non-existent things which they published in fragments.
Read More: Famagusta News coverage of the Cyprus Papers
Those implicated have all stated that they were either in the ‘know’ about the fact that this case was a blatant money laundering and criminal case yet were trying to lure the applicant’s representatives in order to obtain more information on the mysterious ‘Mr. X’ or deny any involvement.
“There is nothing improper about my meeting with Mr Giovanni. We have known each other for years and often meet socially,” Demetris Syllouris, President of the Cypriot Parliament has stated, as reported in the Financial Mirror. Yet both parties in the Cypriot Parliament – DIKO and Citizens Alliance have called on Mr Syllouris to step down (as of the morning of the 13th of October) as they believe his attitude and behaviour have tarnished the credibility of the Cypriot Parliament.
It would appear the noose around the Cyprus Investment Programme tightened fatally. As per the announcement made on Tuesday 13th October the Cyprus Investment Programme is to be abolished in its current form. Cypriot government spokesman Kyriacos Koushos advised that as of November 1st 2020 the program will be suspended. It may be reinstated in a new form once the ongoing investigations and internal reviews conclude.
Read more: The Cyprus Investment Programme: A Ripple effect on all Golden Visa Programmes in Europe
Should all of Cyprus’ investment migration players be condemned for the ‘sins’ of some involved in the Cyprus Papers?
Regrettably, whether they should or shouldn’t a video of this magnitude was the cherry on top as the pressure had been mounting exponentially recently. It is now a fait accompli – the program is suspended until further notice as of next month.
Awkwardly timed, as the interactions with the fake Mr. X’s representatives took place in October 2019 (a year ago), Al Jazeera has just now released this video at a sensitive time when the world’s eyes are on Cyprus and its investment migration programme.
We await to see what lies ahead for the Cyprus Investment Programme, if its ever re-instated and on what grounds and importantly the reaction from Europe on the future of all Citizenship by Investment programmes in the EU on the whole.
